Showing 1 - 10 of 424
On the basis of a real high stakes insurance experiment with small probabilities of losses, we demonstrate that concern … is a more important driver of WTP for insurance than subjective probability estimates when there is ambiguity surrounding … probability insurance "puzzle" well known from the literature, where a part of individuals pays too much and a part nothing for …
Persistent link: https://www.econbiz.de/10009621421
Persistent link: https://www.econbiz.de/10002035589
. -- monetary policy ; Endogenous money ; industrial organization approach to banking theory ; money multiplier ; vector error …
Persistent link: https://www.econbiz.de/10009620766
Persistent link: https://www.econbiz.de/10002115431
Persistent link: https://www.econbiz.de/10002115504
Persistent link: https://www.econbiz.de/10002120356
Persistent link: https://www.econbiz.de/10002120362
In a complete financial market every contingent claim can be hedged perfectly. In an incomplete market it is possible to stay on the safe side by superhedging. But such strategies may require a large amount of initial capital. Here we study the question what an investor can do who is unwilling...
Persistent link: https://www.econbiz.de/10009574876
In this note the unobserved component approach underlying the software package SEATS is compared with the Beveridge-Nelson type of decomposition for seasonal time series. The main strength of the SEATS approach lies in the appealing model formulation and the careful specification and adjustment...
Persistent link: https://www.econbiz.de/10009574877
We emphasize the importance of properly identifying the long-run relations underlying the monetary model of the exchange rate. The separate estimation of long-run money demands leads to a "structural" error correction equation which allows an interpretation of the various channels affecting the...
Persistent link: https://www.econbiz.de/10009574885